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GST on purchase of immovable propert

Naveen Khanna (73 Points)

29 December 2018

If GST paid on purchase of property, where can ITC be utilised

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13 Replies

CA Arun Chhajer (GST Faculty @ Ministry of MSME Govt of India) (2813 Points)
Replied 29 December 2018

no sir....it's block u/s 17(5)(d)

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Ravi SADhiyan (Practice) (4510 Points)
Replied 29 December 2018

Originally posted by : CA Arun Chhajer
	no sir....it's block u/s 17(5)(d)

Dear Sir In Above provision related to Construction Not related to Purchase of Property.

Sumit Sarswat (Student) (3154 Points)
Replied 29 December 2018

Sale or purchase of Completed property is not a supply under GST . There is no question of charging GST so no question of availing ITC .

Ravi SADhiyan (Practice) (4510 Points)
Replied 29 December 2018

Originally posted by : Sumit Sarswat
	Sale or purchase of Completed property is not a supply under GST . There is no question of charging GST so no question of availing ITC .

If Bulding Purchase Before Constructon Or During Constraction than GST Levy under Sec 7 of CGST Act With Schedule-II

Ravi SADhiyan (Practice) (4510 Points)
Replied 29 December 2018

Originally posted by : Sumit Sarswat
	Sale or purchase of Completed property is not a supply under GST . There is no question of charging GST so no question of availing ITC .

If Bulding Purchase Before Constructon Or During Constraction than GST Levy under Sec 7 of CGST Act With Schedule-II

Naveen Khanna (73 Points)
Replied 29 December 2018

ITC on Purchase of ‘under construction’ property ?

Sumit Sarswat (Student) (3154 Points)
Replied 29 December 2018

Under construction property is taxable under GST

Ravi SADhiyan (Practice) (4510 Points)
Replied 29 December 2018

Originally posted by : Naveen Khanna
	ITC on Purchase of ‘under construction’ property ?

Explain With Provision of Act or Notification

Sumit Sarswat (Student) (3154 Points)
Replied 29 December 2018

Sale of building is an activity or consideration which is neither a supply of goods nor a supply of services (Para 5 of schedule III of the CGST Act, 2017).

It flows from the above facts that, sale of ready-to-move-in or completed property does not attract GST. GST is payable only on under construction property.